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Nash equilibrium
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(Definition)
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A Nash equilibrium of a game is a set of (possibly mixed) strategies $\sigma=(\sigma_1,\ldots,\sigma_n)$ such that, if each player $i$ believes that that every other player $j$ will play $\sigma_j$ then $i$ should play $\sigma_i$ That is, when $u_i$ is the utility function for the $i$ th player:
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Translated, this says that if any player plays any strategy other than the one in the Nash equilibrium then that player would do worse than playing the Nash equilibrium.
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"Nash equilibrium" is owned by Henry.
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Cross-references: utility function, player, strategies, game
There are 2 references to this entry.
This is version 5 of Nash equilibrium, born on 2002-07-24, modified 2002-09-30.
Object id is 3195, canonical name is NashEquilibrium.
Accessed 7621 times total.
Classification:
| AMS MSC: | 91A99 (Game theory, economics, social and behavioral sciences :: Game theory :: Miscellaneous) |
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Pending Errata and Addenda
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